Afternoon Coffee: China Trade Show Has No-shows, Scout RFP Adds Contract Solution

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The Trump administration and many top CEOs skipped China’s giant trade show in Shanghai this week, making the U.S.-China trade dispute a key feature of the show, The Wall Street Journal reports.

Companies and the lower-level execs that did show up are walking a fine line between courting business in China and not drawing the president’s wrath.

“American companies are in a difficult spot,” Craig Allen, president of the U.S.-China Business Council, told the Journal this week at the expo.

'Scout Contracts' Joins CLM Market

Scout RFP announced Wednesday the release of Scout Contracts, a new product that extends the e-sourcing provider's toolset to include baseline contract lifecycle management capabilities. Scout Contracts enables users to manage contract obligations, track contract status, manage the contract lifecycle with multiple stakeholders and request e-signatures through integration with DocuSign, a company statement said.

The addition of contract management functionality to Scout RFP's offering comes as several other providers aim to extend their platform value proposition beyond functionality focused in one modular area by adding adjacent capabilities. For Scout RFP specifically, that strategy hinges upon a simplified, painless user experience, which the vendor hopes to extend from sourcing into CLM.

“We needed a way to cut through the complexity of our contracts process,” said Stephen Caution, vice president of business development at JOANN Stores, in Scout RFP's statement. “We chose Scout Contracts because it is simple, flexible and accessible to the entire business, and I can get a clear view into every statement of work and contract obligation across our suppliers.”

Wages and Supply Chain Costs

Voters in Arkansas, the home of Walmart, and Missouri, which also has notable corporate residents and many warehouses, approved raising the minimum wage Tuesday, Supply Chain Dive reports. The change in costs could affect supply chains there and nearby, the Dive reports.

Politics and Procurement

And finally, a stock market update: Republicans held the U.S. Senate, and the Democrats will take control of the U.S. House — opening the door to more industrial and material orders for  infrastructure spending but possible pressure on pharmaceuticals to lower drug costs, CNBC reports in its stock market list of winners and losers in the election.

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